Super Coupa! Annual results impress for e-Procurement provider

- January 17, 2012 1:30 PM
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We’ve featured Coupa before of course, not just because we can’t resist the inevitable puns that go with their name! Their innovative, easy to adopt / use purchase to pay and now spend analytics software (released recently as we reported here), has been making serious waves for the last couple of years in the US and now increasingly in Europe.

Their annual results have just been announced – they’re not a public corporation so they don’t release the whole detail, but what is announced is pretty impressive. Here are the highlights.

  • 2011 revenues increased by more than 120 percent.
  • Users of the software also rose 100 percent.
  • Spend through the Coupa Cloud Spend Management platform grew at150 percent with the Smarter Expense Management module adoption alone growing at more than 900 percent.
  • Total subscription sales transactions for 2011 totaled 152, with a healthy mix of new customers and add-on seats or modules.
  • 2011 customer highlights included: Subway/IPC, Home Retail Group, Molina Healthcare, BNP Paribas, Ministry Health Care, Colliers International, B&H Photo, Savient Pharmaceuticals, Universal Music Group, Endo Pharmaceuticals and many others.
  • Firm moved to larger headquarters in San Mateo, California to accommodate its 100 percent employee growth rate, and opened new UK office.

It’s all genuinely impressive stuff, with really pretty extraordinary growth rates, and based heavily we believe on the ease of use of the products, rapid implementation times and straightforward reporting and integration capabilities. Coupa has been a pioneer in taking B2C approaches and applying them to B2B, and it is clear now that this isn’t a temporary fad, but the way business software – at least in our area – is moving.

Other firms in the market are responding to that, from small and dynamic players up to the mega-ERP providers. The exceptional Coupa numbers show both the potential if you get it right; and the competitive threat, for firms of all sizes in this market, from Coupa themselves.

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